Overview

Highlights

• The lease structure is triple net (NNN), with zero landlord responsibilities. Tenant is responsible for maintaining, repairing, and replacing all aspects of the property, as well as all required insurances, taxes, and utilities.
• There are twelve (12.7) years remaining on the lease term, plus nine (9), five (5) year options. The blended cap rate over the remaining initial term is 8.84%.
• The property, constructed in 2007, is situated on a hard-signalized corner and an oversized 3.31-acre lot.
• Rite Aid is surrounded by several popular retailers including Tractor Supply Co., Giant Food Stores, Taco Bell, Family Dollar, and Advance Auto Parts, among others.
• The next closest Rite Aid is 12 miles (17 minutes) away. This location is the only Rite Aid serving the city of Huntingdon and surrounding communities.
• Penn Highlands Huntingdon Hospital is a prominent healthcare provider in the local economy. The 71-bed hospital is located just 1 mile (4 minutes) from the subject property with an active medical staff of nearly 40 physicians and over 400 employees.
• Huntingdon is home to Juniata College, a private liberal arts college that employs a significant number of residents and brings in students and visitors to the area. The college is located just 1 mile (6 minutes) from the subject property.
• Huntingdon is located only 1.5 hours from Harrisburg, PA, 2 hours from Pittsburgh, PA, and within 3.5 hours of Baltimore, MD, Philadelphia, PA, and D.C.

Documents

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